Enabling Financial Inclusion Through Innovative Credit Solutions

Bridging the gap between people and access to financial services has always been at the core of our mission. We are focused on breaking barriers that limit access to financial products like bank accounts, credit, and savings—especially for underserved communities such as low-income individuals...

Allawee Verve Promo Details

Don’t miss out—participate in the Allawee Verve Promo today and start living the good life with your Verve card!

Why Your PIN Is Important for Transactions and How to Safeguard It

Everyday, millions of people in Nigeria and all around the world carry out transactions using their credit/debit card or a mobile money app. To carry out transactions online or with their cards...


Adopting Card Management APIs to Regulatory Compliance and Multi-Channel Activation

In an era where concerns about data leaks prevail, authenticating a consumer's identity becomes paramount. By the end of this article, you will understand how card APIs have evolved to meet regulatory requirements and compliance standards...


How card payments work in Nigeria

You have probably used a card to pay for an item at a store or restaurant, but do you know how they work? In this article, you will learn why card payments have increasingly become part of the Nigerian economy as a form of payment and how they work...


Why do card payments fail in Nigeria?

Card payments have increasingly become a popular form of payments in Nigeria. However, it still faces some challenges related to adoption(according to Statista credit card adoption is still low) and card payment failure. You probably know how it feels...


8 Benefits of Custom Branded Cards for Fintechs in Nigeria

The card payment industry is growing astronomically, fueled by the shift to online and mobile payments. For many B2C fintechs offering payment solutions —the adoption of custom-branded cards represents an invaluable strategy. In this article, we will highlight the...

Introducing Wallet Policies for Spend Management 🎉🎉

The blinding Christmas lights and the skyrocketing budgets from the HR and the marketing team are enough tell-tale signs that we are in December. As a business owner, we understand the importance of staying organized during this period; this is why we...

How to Identify When Your Business Needs a Spend Management Tool

Navigating business expenses can be a paperwork maze, especially for business owners with small or nonexistent finance departments. Fortunately, we're living in an era of digital solutions for expense management. You might be skeptical... 

Adopting PIN Management APIs For Fintechs In Nigeria

We're committed to enhancing your financial experience and we're excited to share a feature that puts you in control of your account security—Introducing PIN Change feature.We understand the importance of keeping your financial information secure...

Introducing Bookkeeper Access 🎉🎉

As part of our latest update, we're excited to share details about the Bookkeeper access, a feature designed to upgrade your expense management. So, what exactly can a bookkeeper do? Admins can now invite users as bookkeepers, allowing them to...

How to close your books faster

Financial statements are important in organisations. They come up very often: when trying to process financing, in discussions with shareholders and potential investors, and even when taking a loan. This is why closing your books at the end of every month is recommended. 

How Allawee is making spending trackable for businesses

Unlike a traditional debit card, the corporate card comes with a variety of things such as the spend control that limits companies to a specific spend set by the finance team. For instance, cards issued to drivers could be programmed in a way that it is used only in fuel stations. In addition to this unique feature, Allawee leverages innovation when it comes to offering products and services. 

CREATING YOUR CORPORATE EXPENSE POLICY

Creating a corporate expense policy is an important step to take as a business owner, especially when you want your business to grow. A corporate expense policy ensures that you and your employees are on the same page regarding finances. Everyone can have the same financial expectations, while also saving time, money, and effort.

THE DIFFERENCE BETWEEN A BUSINESS AND PERSONAL PAYMENT CARD

Business and personal payment cards may seem the same. They both allow you make payments for goods and services. However, they are different in many other ways. Some of the ways they differ include ownership requirements, available features, and how they affect your finances. It is important to keep the differences in mind when choosing a payment card for your business. 

Allawee highlights three (3) reasons why the Naira is depreciating against the Dollar

Nigeria gets its forex sources from three primary sources; Oil sales accounted for (62% of major FX inflows), Remittances (30% of major FX inflows), whilst FPIs (5%). The current FX crisis could be traced back to 2020 following the decline in oil prices and the FPI exit from Nigerian markets to safe haven instruments in developed markets. 

An introduction to Payment Service banks

The Central Bank of Nigeria (CBN), in its mandate to promote a sound financial system and enhance access to financial services for low-income earners and unbanked segments in Nigeria, continues to be innovative in deepening the financial services sector. Subsequently, in the last 12 months, the CBN has granted Payment Service banks Licenses to three major players in the industry. 


How do financial institutions hedge against inflation in Nigeria

The National Bureau of Statistics recently estimated inflation at 18.6% year-on-year in June -2022. In instances of extremely high inflationary pressures. Businesses or individuals can use various financial instruments or products to hedge against inflation.

Mutual Funds

Mutual funds are generally referred to as open-ended funds because they have no limit to the number of investors or volume of the units sold in the fund. The fund sells new units to investors and stands ready to buy back its old units. More so, the capitalisation of mutual funds is not fixed, and they can issue more shares depending on how much the investors want to invest in the fund.

Embedded Finance representing the next opportunity in Africa

The Covid-19 pandemic saw a massive acceleration in the adoption digital payments systems across most industries worldwide. In droves, companies began implementing a model that embedded several product offerings on a single platform to promote a seamless user experience. 

InsurTech: A breath of life into the Nigerian insurance sector?

Nigeria has one of the lowest insurance penetration rates in the world. Despite being the largest economy in Africa, the country ranks worst in terms of Gross Premiums as a percentage of GDP, at 0.5 per cent. However, as insurtechs gain traction, that grim picture appears to be changing.


A Review of the Crypto Market vs Gold

In the aftermath of the pandemic, global assets, stocks, and cryptocurrencies reached an all-time high. In an unprecedented era of helicopter/ free money, investors with excess earnings fled into safe-haven assets to earn abnormal returns, as excess liquidity meant that asset prices grew exponentially following the injection of money

Telcos, PSBs come into the Fintech Space - Nigeria’s best hope for financial inclusion?

Late last year, the topic of Payment Service Banks (PSB) re-entered the economic discussion, after the CBN granted an Approval in Principle (AIP) to Airtel Africa Plc. and MTN Nigeria allowing...

3 ways to build your Credit Score from scratch

Although it might sound daunting to some, building credit isn’t as hard as it may seem. You just have to educate yourself on how to get started. It is very important to know that...

Introducing Enquiries and Payment History

At Allawee, we have added both Enquiries and Payment history points to our list of API responses. With these features, you can enjoy ease-of-access and accurate financial data about your customers so you can make better informed credit decisions...

Introducing Data Furnishment API

By law, many lenders are obligated to report the credit they provide their customers to at least two the nationally accredited sources of Credit Risk Data. This information also...

Credit Scoring and how it affects you

If you don't know anything about your credit score or the credit scoring system then you’re not alone. A lot of people are completely ignorant of this..

Credit Scoring 101

Credit scoring is a method used by credit bureaus to determine how much credit they should grant. Your personal credit score is curated using information provided by credit bureaus...

Credit Scores Vs Reports

Credit Scores vs Reports Credit scores and credit reports. You have heard and read these terms multiple times. You may have used them yourself a...

The Beginner’s Guide to Credit Scores

A number used by lenders to determine how likely they are to be repaid is referred to as a credit score. It demonstrates a borrower’s debt history to a lender before the lender gives out their service on credit. Examples of such services include business loans, mortgages, insurance etc. Today, we are breaking it down to the basics so that the next time you hear...

Financial Love letters from Allawee

Enabling Financial Inclusion Through Innovative Credit Solutions

Allawee Verve Promo Details

Why Your PIN Is Important for Transactions and How to Safeguard It

Adopting Card Management APIs to Regulatory Compliance and Multi-Channel Activation

How card payments work in Nigeria